Thursday, 16 May 2013
Lenders extend, pretend their way to success
Posted by Shawn A. Turner
at 7:18 AM
Turns out those banking folks are pretty smart after all.
The “extend-and-pretend” and “delay-and-pray” strategies implemented by hotel lenders waiting for the skies to turn sunny once more has been the source of some snickering around the industry during the downturn. There was a thought that this practice was simply deferring the problem—that their comeuppance would come soon enough.
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Thursday, 11 April 2013
SEC ruling is a #disclosurefail
Posted by Shawn A. Turner
at 7:31 AM
Imagine if this tweet from Starwood Hotels & Resorts Worldwide’s President and CEO Frits van Paasschen popped up on your Twitter feed:
“Uh-oh. Q1 net income down 90%. Asset light worst decision ever. Office in chaos right now. #FritsFail #Starwoodruined”
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Friday, 22 March 2013
Stock Index growth shows industry’s resilience
Posted by Shawn A. Turner
at 7:32 AM
The investing public has caught on to something hoteliers have long known: The hotel industry is one hardy business.
There was a lot of talk last week of the Dow Jones Industrial Average and S&P 500 breaking or approaching new highs. But the indices weren’t the only ones showing significant gains.
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Monday, 18 February 2013
Behind-the-scenes look at Gaylord evolution
Posted by Shawn A. Turner
at 8:25 AM
Oh, what might have been.
Gaylord Entertainment Company’s repositioning as a real estate investment trust (now known as Ryman Hospitality Properties) and sale of the management of its Gaylord-branded properties was one of the big hotel stories of 2012. On Friday during a meeting with analysts and investors, the REIT’s CEO, Chairman and President Colin V. Reed lifted the curtain to reveal some of the behind-the-scenes action leading to the deal.
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Monday, 17 December 2012
Hotel deals will gain modestly in ‘13
Posted by Shawn A. Turner
at 9:21 AM
Fool me thrice, shame on me.
At the start of 2011 and 2012, my thoughts surrounding the hotel transactions market were exactly the same: “This is the year deals are really gonna fly!” But a decline in the stock prices of real estate investment trusts and a wobbly credit market derailed deals each year.
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Monday, 17 September 2012
Despite Gabelli, Gaylord still has a done deal
Posted by Shawn A. Turner
at 8:31 AM
One of Gaylord Entertainment Company’s biggest shareholders last week said it intends to vote against the company’s proposed reorganization as a real-estate investment trust and its handing off of management duties to Marriott International. So does this put the deal, which comes up for a shareholder vote next week, in danger?
The short answer: No. The reason: The biggest shareholder is already on board with the plan.
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